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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: rowrowrow who wrote (59453)	1/10/2000 8:36:00 AM
From: hoffy	Respond to of 108040

TLNT huge wireless news. This could be another XNET going into the teens. Telenetics Acquires EFLEX Wireless To Build a National Cellular Telemetry Data Networks LAKE FOREST, Calif.--(BUSINESS WIRE)--Jan. 10, 2000--Telenetics Corporation (OTCBB:TLNT - news) announced today that it has acquired all of the outstanding capital stock of EFLEX Wireless, Inc. (''EFLEX''). The transaction closed on Friday, January 7, 2000. Founded by former senior executives of GTE Wireless and other industry experts, EFLEX Wireless has developed proprietary technology for sending and receiving data over the existing control channels of cellular networks. Telenetics believes that the technology will support a wide range of wireless data applications including utility meter reading, remote alarm monitoring and reporting, messaging, vending automation, vehicle tracking and remote diagnostics, traffic management and many other remote monitoring and data acquisition applications. Commenting on the acquisition, Michael Armani, President and Chief Executive Officer of Telenetics stated that: ''Wireless telemetry is a multi-billion dollar market in waiting. Telenetics has been actively evaluating and testing a number of different technologies in the wireless telemetry field. While each technology hold certain positive attributes, until EFLEX's Stealth(TM) technology, none has been able to fully overcome the task of taking maximum advantage of cellular control channels in a way which will not overburden the channels and will not interfere with cellular voice channels in large implementations. EFLEX's proprietary technology, together with its seasoned management team with a wealth of knowledge in wireless applications and network implementation, will assist us in providing a global wireless telemetry alternative to our customers in the utility automation, automatic meter reading (AMR), transportation and other industries. This acquisition will generate a recurring revenue stream for Telenetics and increase the overall Company's value for our shareholders.'' As a result of the acquisition, Terry Parker, EFLEX co-founder and Vice Chairman, will join Telenetics' Board of Directors. Until 1995, Mr. Parker was President of GTE Telecommunications Products and Services with an $8 billion in operations, which included GTE Spacenet, GTE Directories and GTE Government Services. He also served as President of GTE Mobilnet and Senior Executive Vice President of GTE Corporation. Other senior executives joining Telenetics management team are Bill Saunders, co-founder and Chairman of EFLEX and founder and former President and CEO of HighwayMaster, Inc. (NASDAQ:HWYM - news); and John McLean, former Vice President of GTE Telecommunications Products and Services. Mr. Saunders will serve as an Advisor to the Board of Directors of Telenetics. John McLean, President and CEO of EFLEX Wireless, will head Telenetics' telemetry and wireless data network operations. Mr. McLean stated that, ''Very low-cost and viable wireless telemetry reporting devices that work have not been available to various markets that could truly use automated data reporting to gain efficiency and simplified operations. We believe that integrating EFLEX's advanced telemetry technology with existing and future products of Telenetics will result in a superior data network and products that permits fast, repetitive and secured access to millions of devices in a wide range of markets.'' Prior to joining EFLEX in 1999, John McLean was Vice President of Technology at GTE Wireless. He has held several senior technology and management positions at GTE Corporation including: Vice President of International Business Development, Chairman of the Board of CTI, a GTE Cellular company providing service in South America and Vice President GTE Mobilnet. Based in Lake Forest, California, Telenetics manufactures proprietary wireless and wired products for the rapidly growing industrial automation markets. Telenetics uses cellular networks to collect data from industrial devices such as meters, remote terminal units, traffic controllers, industrial controls, remote sensors and data loggers and transmit it through wireless cellular and radio frequency networks or telephone lines to a host site, direct or via the Internet. Telenetics wireless solutions are used in many applications such as AMR projects, power outage detection, traffic automation projects, flow measurement and remote monitoring.